KUALA LUMPUR (Oct 13): Investor sentiment turned bearish over the last week as the International Monetary Fund (IMF) downgraded its global economic growth forecast to 3.7% for 2018 and 2019 from 3.9%, the first downward revision since July 2016 amid escalating trade tensions between US and China....

October effect spooks global equity markets

KUALA LUMPUR (Oct 9): Malaysia will be "very friendly" towards the private sector be it foreign or local investors, Prime Minister Tun Dr Mahathir Mohamad said in his closing address at the Khazanah Megatrends Forum 2018 here today.

"We will help them to make profit when they invest in ...

PM: Malaysia will be 'very friendly' towards private sector

KUALA LUMPUR (Sept 28): The divestment of a 30% stake in Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Spash) is set to cost a one-time disposal loss of about RM331.6 million for Kumpulan Perangsang Selangor Bhd (KPS), according to a filing with Bursa Malaysia.

The proposed divestment...

KPS’ sale of Splash stake results in RM331.6 mil divestment loss but it pockets RM765 mil in cash

KUALA LUMPUR (Sept 28): Cypark Resources Bhd’s net profit rose 16.4% to RM19.22 million in the third financial quarter ended July 31, 2018 (3QFY18) from RM16.5 million a year ago, due mainly to improved margin contribution from the environmental engineering, and green technology and renewable ene...

Cypark Resources 3Q net profit up 16% on improved margin contribution

KUALA LUMPUR (Sept 27): The pre-condition offer of S$2.06 per share from Keppel Corp Ltd and Singapore Press Holdings Ltd (SPH) to buyout all shares they do not own in Singapore-listed M1 Ltd, of which Axiata Group Bhd owns a 28.69% stake, hinges on approvals obtained from the Info-communications...

Approvals from IMDA necessary for offer to acquire Axiata’s 28%-owned M1

KUALA LUMPUR: Disappointing second-quarter earnings figures have put Astro Malaysia Holdings Bhd under selling pressure, pulling its share price to RM1.52 — the lowest level since June 4.

A total of 9.17 million shares changed hands yesterday — more than four times its 30-day average vo...

Astro shares fall after 2Q earnings slump

KUALA LUMPUR (Sep 27): Eversendai Corp Bhd saw its share price up by 1.91% or 1.5 sen in the morning trade to 80 sen, with about 2.68 million shares traded, following announcement of its new four projects worth about RM404 million.

At 10.55am, the volume was higher than its 30-days aver...

Eversendai up 1.91% after announcing four new projects worth RM404 mil

KUALA LUMPUR: Crest Builder Holdings Bhd and T7 Global Bhd have teamed up to jointly construct one block of commercial building with 44 floors for the Latitud8 mixed development in Jalan Ampang here.

In a filing with Bursa Malaysia yesterday, T7Global said its wholly-owned subsidiary T7...

Crest Builder, T7 Global to jointly build Latitud8 block

KUALA LUMPUR: The drop in gold prices has weighed on Poh Kong Holdings Bhd’s net profit for the fourth quarter ended July 31, 2018 (4QFY18).

The company’s net profit shed by 38% to RM8.93 million, or 2.17 sen per share, from RM14.3 million or 3.49 sen per share in the previous correspon...

Lower gold prices eat into Poh Kong’s 4Q net profit

KUALA LUMPUR: Eversendai Corp Bhd’s year-to-date (YTD) project wins grew to RM1.12 billion, after the company secured four new projects worth RM404 million.

In a statement filed to Bursa Malaysia yesterday, Eversendai said the four new project wins, which include a contract to build one...

Eversendai YTD wins jump to RM1.12b after bagging four new jobs

The Ministry of Energy Transition and Water Transformation (Petra), in collaboration with The National Water Services Commission (SPAN), is poised to establish and devise the framework for implementing transformative measures in the water services sector over the next decade.

Fadillah: Petra, SPAN to drive implementation of transformative measures for water services sector

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.

Critical point failure could’ve led to fatal Lumut chopper crash, says expert

KOTA BHARU (April 23): The man involved in the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a Kota Bharu court on Wednesday (April 24), according to the police.

KLIA shooting suspect to be charged in Kota Bharu on Wednesday

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.

Zambry: Education system must be synonymous with country’s development

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.

Downed HOM chopper used for the first time in flyby, says defence minister 

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 23)

Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.

Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.

Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.

ATX Semiconductor to boost investment in Melaka to RM952m

Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;

Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).

Malaysia emerges as prime destination for Asean biz expansion — UOB study

While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.

Sapura Energy not out of the woods yet as large debts still in its way

KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.

Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.

Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.

In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.

Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

<h3>MyEG Services Bhd</h3>

Target price: RM1.15 ADD

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Brokers Digest: Local Equities: MyEG Services Bhd, Mah Sing Group Bhd, Tan Chong Motor Holdings Bhd, Gamuda Bhd 

CONSTRUCTION firm GDB Holdings Bhd — which has been embroiled in disputes with KSK Group in the last two years over the development of the 8 Conlay project in Kuala Lumpur — appears to be back on investors’ radar, judging by the recent upward trend in its share price.

According to marke...

GDB Holdings a front runner for several jobs

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.&nbsp;

Bursa ends higher on buying support from local and foreign institutions

PETALING JAYA (April 23): Tropicana Corp Bhd is partnering with Maybank Islamic Bhd to provide a home financing solution called Maybank Islamic’s HouzKEY.&nbsp;

Tropicana partners Maybank Islamic to offer HouzKEY home financing solution

Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;

The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

Crest Builder bags RM486m condominium project in Mont Kiara

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.

Apple's 1Q smartphone shipments in China tumble 19%, data shows

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.&nbsp;

However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told The Edge on Tuesday.

Capital A’s unit in RFQ process for SriLankan Airlines, no price bid yet

GLOBETRONICS Technology Bhd, an established outsourced semiconductor assembly and test (OSAT) player, is planning to move up the value chain by diversifying into advanced packaging to ride the wave of rising demand for such services.

It also expects advanced packaging to be its future r...

Globetronics to venture into advanced packaging on back of rising demand

High crude oil prices&nbsp;caused by&nbsp;tension in the Middle East&nbsp;will help to boost Malaysia's oil and gas exports. However, escalated fuel&nbsp;prices will dampen the country’s economic growth, according to the Socio-Economic Research Centre (SERC).

SERC: Escalated oil price boon and bane for Malaysia

The defence in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial will contest the 25 abuse of power and money-laundering charges levelled against former prime minister Datuk Seri Najib Razak.

Billy Toh

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